Credit and liquidity for households and businesses: applications for a moratorium of € 298 billion; over 68 billion the value of requests to the SME Guarantee Fund; the guarantees issued by SACE rise to 12,4 billion euros
There are high volumes, 2,7 million for a value of approximately 298 billion, applications for adhesion to the moratoriums on loans and the value of requests for guarantees for new bank loans for micro, small and medium-sized enterprises submitted to the Guarantee Fund for SMEs. Guarantees for 68 billion euros were granted through Sace's 'Garanzia Italia', out of 12,4 requests received.
These are the main results of the weekly survey carried out by the task force for the implementation of the measures to support liquidity adopted by the Government to cope with the Covid-19 emergency, which includes the Ministry of Economy and Finance, Ministry of Economic Development , Bank of Italy, Italian Banking Association, Mediocredito Centrale and Sace [1].
The Bank of Italy continues to collect data from banks, on a weekly basis, regarding the implementation of government measures relating to the 'Cura Italia' and 'Liquidity' decrees, category initiatives and those offered bilaterally by individual banks to their own customers. On the basis of preliminary data, as of 31 July, more than 2,7 million requests or notices for a moratorium on loans were received, for approximately 298 billion. It can be estimated that, in terms of amounts, approximately 93% of the requests or communications relating to the moratoriums have been accepted by the banks, albeit with differences between the various measures; about 3% have so far been rejected; the remainder is under examination.
In more detail, 44% of the requests come from non-financial companies (against loans for 195 billion). As regards SMEs, requests pursuant to art. 56 of the 'Cura Italia' Decree (over 1,25 million) related to loans and credit lines for over 158 billion, while the adhesions to the moratorium promoted by the ABI (50 thousand) concerned over 12 billion in loans to SMEs.
Household applications [2] concern loans of around 94 billion euros. The banks received approximately 207 thousand applications for suspension of the mortgage payments on the first home (access to the so-called Gasparrini Fund), for an average stable amount equal to approximately 94 thousand euros. The moratoriums of ABI and Assofin aimed at families have collected almost 461 thousand subscriptions, for about 19 billion in loans.
Based on the weekly survey by the Bank of Italy, it is estimated that the loan requests received by intermediaries for access to the Guarantee Fund for SMEs continued to grow in the week from 24 to 31 July, up to 1,14 million , for a loan amount of almost 85 billion. Loans disbursed increased even more rapidly. As at 31 July, over 87% of applications for loans fully guaranteed by the Fund had been disbursed. The percentage of loans disbursed is further increasing compared to the end of the previous week, both in terms of number of requests and in terms of amounts.
The Ministry of Economic Development and Mediocredito Centrale (MCC) report that a total of 970.096 requests for guarantees received from intermediaries to the Guarantee Fund in the period from 17 March to 11 August 2020 to request guarantees for loans in favor of businesses, artisans, self-employed and professionals, for a total amount of over € 68,4 billion. In particular, the applications received and relating to the measures introduced with the 'Cura Italia' and 'Liquidity' decrees amounted to 965.194, equal to an amount of approximately 67,8 billion euros. Of these, over 817.652 refer to loans of up to 30.000 euros, with a 100% coverage percentage, for a financed amount of approximately 16,2 billion euros which, according to the law, can be disbursed without waiting for the outcome. definitive of the preliminary investigation by the Manager. As of August 12, 956.503 transactions were accepted, of which 951.886 pursuant to the 'Cura Italia' and 'Liquidity' Legislative Decree.
The total volumes of guarantees under the “Guarantee Italy”, SACE's tool to support Italian companies affected by the Covid-12,4 emergency, rose to approximately 415 billion euros, for a total of 19 transactions. Of these, approximately € 6,7 billion concern the first three transactions guaranteed through the ordinary procedure provided for by the Liquidity Decree, relating to loans to large companies, with over 5.000 employees in Italy or with a turnover value greater than 1,5 billion euros. In addition, the total volumes guaranteed in a simplified procedure rose to approximately € 5,7 billion, against 412 guarantee requests managed and issued within 48 of receipt through the dedicated digital platform to which over 250 banks, financial institutions and security companies are accredited. factoring and leasing.